Entrepreneurs and innovation

Chile’s international startup incubator launches new round

Start-Up Chile announces winners after receiving 1,509 applications from 61 countries, and for the first time, Chile is the most represented country among them. 

Monday, September 03, 2012 Category: Business

James Adams, former Dean of the Stanford Engineering School, on Chile’s entrepreneurial program. Video courtesy of Start-Up Chile / Facebook.

Chile’s entrepreneurial incubator, Start-Up Chile, is continuing to attract talented business people from around the world - but for the first Chile will be the most represented country among successful applicants.


That’s the biggest news to come from the announcement of the 101 new startups that will form the latest “class” of entrepreneurs, beginning in October. Of the successful companies, 26 percent are from Chile.


The startups were selected from a pool of 1,509 applications, coming from no less than 37 countries around the world, including places as far away as Pakistan, Azerbaijan and Nepal.


The United States will be the most represented of foreign nations, with 24 percent of the successful applicants hailing from Chile’s northern neighbor, while Argentina, Brazil, India and the United Kingdom are all equally represented with 4 percent each of the latest batch.


That diversity is also reflected in the business sectors that the companies will address, with 16 percent of them being tailored toward social media and 14 percent toward education, while e-commerce accounted for 13 percent and enterprise software 8 percent.


The remaining 59 percent of the businesses include sectors as diverse as healthcare and biotechnology, energy and clean technology, media, tourism and natural resources.


The success of Chilean applicants marks a significant milestone for the program, which offers a US$40,000 grant to emerging companies from around the world as well as office space, mentoring and business connections.


The financial assistance and guidance is given with absolutely no strings attached, but it’s not just a handout - the idea is to foment an innovative atmosphere in the Andean nation and to position Chile as the technological hub of South America.


For more information on the program, check out the Start-Up Chile official website.

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